Week ending July 22nd, 2016 Happy Friday, PLANSPONSOR readers! Retirement readiness is an increasing concern for both employees and employers, and in this week’s news we see that many employees’ plans to work later are thwarted. The retirement security crisis is one reason we’ve seen legislation for universal retirement plans, as a new bill was introduced this week. But, plan sponsors can be retirement savings coaches for employees throughout their careers and can help Baby Boomers and women with their unique concerns, as well as introduce retirement income products into their plans. There are things that can be done to improve participant outcomes. Enjoy this edition of PLANSPONSOR Weekend!
Editor's choice Data and Research Retirement Readiness an Increasing Concern Plan sponsors are beginning to worry that their workers won’t be able to retire in a timely fashion.Read more > Compliance Universal Retirement Plan Bill Introduced U.S. Representative Joe Crowley (D-New York), vice chair of the Democratic Caucus, introduced the Secure, Accessible, Valuable, Efficient Universal Pension Accounts (SAVE UPs) Act. The new legislation would universal retirement savings accounts so every American worker would have assets for retirement.Read more > Administration Plan Sponsors As Retirement Coaches “Coaching includes offering communication, education and the opportunity for advice to help employees take an active role in retirement planning,” says Cathy McCabe with TIAA.Read more > Industry Voices Women and Retirement Risk: What Should Plan Sponsors Know? Anna M. Rappaport, FSA, MAAA, a fellow of the Society of Actuaries (SOA) and member of the American Academy of Actuaries, suggests actions to help women better prepare for retirement.Read more > Administration Offering Retirement Income Products in DC Plans Can Be Simple Adding an annuity option to a DC plan is similar to adding any new investment to the plan, said Geoff Dietrich of Dietrich & Associates.Read more >
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